Question 1

A U.S. District Court is the lowest trial court.

Accepted Answer

A) True 
 B)False

Question 2

A researcher can find tax information on home page sites of:

Accepted Answer

A)  Governmental bodies.
B)  Tax academics.
C)  Publishers.
D)  CPA firms.
E)  All of these.F) A) and C)
G) B) and C)

Question 3

Technical Advice Memoranda deal with completed transactions.

Accepted Answer

A) True 
 B)False

Question 4

Distinguish between the jurisdiction of the U.S. Tax Court and a U.S. District Court.

Accepted Answer

The U.S. Tax Court hears only tax cases ...

Question 5

In recent years, Congress has been relatively successful in simplifying the Internal Revenue Code.

Accepted Answer

A) True 
 B)False

Question 6

Discuss the advantages and disadvantages of the Small Cases Division of the U.S. Tax Court.

Accepted Answer

There is no appeal from the Small Cases ...

Question 7

Which company does not publish citators for tax purposes?

Accepted Answer

A)  John Wiley & Sons
B)  Commerce Clearing House
C)  Thomson Reuters RIA
D)  Westlaw
E)  Shepard'sF) B) and D)
G) C) and D)

Question 8

There are 11 geographic U.S. Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 9

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

Accepted Answer

A) True 
 B)False

Question 10

Which publisher offers the Standard Federal Tax Reporter?

Accepted Answer

A)  Research Institute of America
B)  Commerce Clearing House
C)  Thomson Reuters
D)  LexisNexis
E)  None of theseF) A) and B)
G) A) and C)

Question 11

Which of the following sources has the highest tax validity?

Accepted Answer

A)  Revenue Ruling
B)  Revenue Procedure
C)  Regulations
D)  Internal Revenue Code section
E)  None of theseF) C) and D)
G) A) and B)

Question 12

The "petitioner" refers to the party against whom a suit is brought.

Accepted Answer

A) True 
 B)False

Question 13

Which is presently not a major tax service?

Accepted Answer

A)  Standard Federal Tax Reporter
B)  Federal Taxes
C)  United States Tax Reporter
D)  Tax Management Portfolios
E)  All of these are major tax servicesF) B) and E)
G) A) and B)

Question 14

Which Regulations have the force and effect of law?

Accepted Answer

A)  Procedural Regulations
B)  Finalized Regulations
C)  Legislative Regulations
D)  Interpretive Regulations
E)  All of theseF) A) and D)
G) A) and C)

Question 15

In general, regulations are issued immediately after a statute is enacted.

Accepted Answer

A) True 
 B)False

Question 16

A jury trial is available in the following trial court:

Accepted Answer

A)  U.S. Tax Court.
B)  U.S. Court of Federal Claims.
C)  U.S. District Court.
D)  U.S. Circuit Court of Appeals.
E)  None of these.F) C) and D)
G) A) and B)

Question 17

The term "petitioner" is a synonym for "defendant."

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is not an administrative source of tax law?

Accepted Answer

A)  Field Service Advice
B)  Revenue Procedure
C)  Technical Advice Memoranda
D)  General Counsel Memorandum
E)  All of these are administrative sources.F) All of the above
G) A) and C)

Question 19

Determination letters usually involve completed transactions.

Accepted Answer

A) True 
 B)False

Question 20

Subchapter D refers to the "Corporate Distributions and Adjustments" section of the Internal Revenue Code.

Accepted Answer

A) True 
 B)False

Exam 2: Working With the Tax Law

A jury trial is available in the following trial court:

Correct AnswerverifiedShow Answer

Which of the following is not an administrative source of tax law?

Correct AnswerverifiedShow Answer

Which Regulations have the force and effect of law?

Correct AnswerverifiedShow Answer

A researcher can find tax information on home page sites of:

Correct AnswerverifiedShow Answer

Discuss the advantages and disadvantages of the Small Cases Division of the U.S. Tax Court.

Correct AnswerverifiedThere is no appeal from the Small Cases ...View AnswerShow Answer

Which company does not publish citators for tax purposes?

Correct AnswerverifiedShow Answer

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

Correct AnswerverifiedShow Answer

Determination letters usually involve completed transactions.

Correct AnswerverifiedShow Answer

Which is presently not a major tax service?

Correct AnswerverifiedShow Answer

The "petitioner" refers to the party against whom a suit is brought.

Correct AnswerverifiedShow Answer

Subchapter D refers to the "Corporate Distributions and Adjustments" section of the Internal Revenue Code.

Correct AnswerverifiedShow Answer

The term "petitioner" is a synonym for "defendant."

Correct AnswerverifiedShow Answer

There are 11 geographic U.S. Circuit Court of Appeals.

Correct AnswerverifiedShow Answer

In recent years, Congress has been relatively successful in simplifying the Internal Revenue Code.

Correct AnswerverifiedShow Answer

A U.S. District Court is the lowest trial court.

Correct AnswerverifiedShow Answer

Which of the following sources has the highest tax validity?

Correct AnswerverifiedShow Answer

Technical Advice Memoranda deal with completed transactions.

Correct AnswerverifiedShow Answer

In general, regulations are issued immediately after a statute is enacted.

Correct AnswerverifiedShow Answer

Which publisher offers the Standard Federal Tax Reporter?

Correct AnswerverifiedShow Answer

Distinguish between the jurisdiction of the U.S. Tax Court and a U.S. District Court.

Correct AnswerverifiedThe U.S. Tax Court hears only tax cases ...View AnswerShow Answer

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There is no appeal from the Small Cases ...
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The U.S. Tax Court hears only tax cases ...
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